The Backdrop of Electronic Commerce
Technological advances in electronic commerce (e-commerce) solutions have revolutionized the way business is conducted. The popular explosion of the Internet, the ubiquity of the browser, the network infrastructure and the e-commerce solutions that glue these technologies together, have led to several developments:
new channels for buying and selling have emerged over the Internet, PA1 buyers and sellers are more accessible to each other then ever before, PA1 commodities as well as non-commodities can now be bought and sold at variable prices, determined by the buyer's willingness to pay and the seller's willingness to accept.
These dynamics are driving towards the creation of new and more efficient online markets that employ auction methodologies. The design, implementation and maintenance of auction solutions for these markets require sophisticated software technology.